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Posts on ‘March 6th, 2017’

Shell’s North Sea changing of the guard

Written by Jeremy Cresswell – 06/03/2017 8:50 am

Last month, it emerged that there’s a handover of the helm underway at Shell’s UK Continental Shelf and Ireland business based out of Aberdeen.

After pretty much two years in command, Paul Goodfellow is taking on a new challenge as Shell’s vice president wells based at Rijkswijk in the Netherlands, effective April 1.

Assuming command in Aberdeen is Steve Phimister, who has for the past year been UK “transition lead” for the integration of BG Group’s business into Shell following the successful £36.4billion ($52.6billion) takeover completed early last year.

That Goodfellow should be on the move surprised some in the North Sea community, but this has been a hectic period.

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Prelude FLNG project relegated to the backburner

FLNG projects – mega tankers fitted with gas extraction and liquefaction facilities – allow producers to tap offshore gas wells and ship LNG without having to build costly pipelines to onshore plants. Owners can move the vessels to new fields when production at an old one ends, slashing asset end-of-life costs.

By Mark Tay: Reuters 6 March 2017

SINGAPORE: Once considered the future of gas production, floating liquefied natural gas (FLNG) projects have been firmly relegated to the backburner as global gas producers seek cheaper ways to compete with a surge in U.S. shale supplies and slumping prices.

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Potential bidders eye Shell’s Corrib stake

Potential bidders eye Shell’s Corrib stake

The Sunday Business Post reports that as many as three potential bidders are running the rule over Shell’s stake in the €3.6 billion Corrib gas field off the west coast of Ireland as the oil and gas giant moves ahead with a $30 billion assets sell-off.

While the Corrib stake has not been formally put on the market, the newspaper cites unidentified market sources as saying that a number of companies are looking at Shell’s 45 per cent interest, with Australian bank Macquarie said to be among them.

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